Loan Programs
The right loan,
not just a loan.
Payment calculator
Your numbers.
A clearer starting point.
Estimated monthly payment
$3,178.27
Loan amount: $400,000.00
- Principal & interest
- $2,528.27
- Property taxes
- $500.00
- Homeowners insurance
- $150.00
- HOA dues
- $0.00
- Mortgage insurance
- $0.00
Illustrative estimate for a fixed-rate, fully amortizing mortgage—not a quote, APR, approval or reverse mortgage calculation. The sample rate is not a current offer. Taxes and insurance are annual amounts; HOA and mortgage insurance are monthly. Enter mortgage insurance if applicable; it is not automatically calculated. Excludes closing costs and other fees. Actual payments and program terms vary.
Programs
Find your fit.
Conventional
As little as 3% down
Flexible terms for buyers with solid credit. Remove mortgage insurance once you reach 20% equity.
FHA
3.5% down
Government-backed loans with more forgiving credit requirements — popular with first-time buyers.
VA
0% down
For veterans, active service members and eligible spouses. No monthly mortgage insurance.
USDA
0% down
For homes in eligible rural and suburban areas, with income limits that apply.
Jumbo
Higher loan amounts
Financing above conforming limits for luxury and high-cost-area homes.
Refinance
Rate, term or cash-out
Lower your payment, shorten your loan, or access your home's equity.
Non-QM
Flexible qualification
Financing built for complex finances — self-employed borrowers, investors and retirees. See below.
Learn more →
Reverse Mortgages
Retirement & home equity
Understand home equity access, costs, ongoing responsibilities and repayment.
Program availability and requirements vary. Subject to credit approval.
Non-QM
When the rulebook doesn't fit.
Most mortgages follow one rulebook: standard W-2 income documentation, underwritten to Fannie Mae and Freddie Mac guidelines. Non-QM (“non-qualified mortgage”) loans step outside it. Instead of asking “what does your tax return say?” they underwrite around how you actually earn and hold your money — which opens doors for self-employed borrowers, real-estate investors, retirees and buyers whose finances don't fit a form. The Knox Mortgage Team offers three Non-QM paths:
DSCR
Investor cash-flow loans
DSCR (debt service coverage ratio) programs generally compare eligible rental income with the property's housing payment. A ratio of 1.0 means the measured income equals the measured payment; required ratios and calculation methods vary. Credit, down payment, reserves, appraisal and property requirements still apply. Rental income alone does not guarantee approval.
Bank Statement
For the self-employed
Some programs evaluate personal or business bank statements, often over 12–24 months, instead of relying primarily on tax-return income. Transfers and non-income deposits may be excluded, and business expenses reduce qualifying income. Ask how your lender calculates expenses, what business history is required and which documents are needed; deposits are not automatically qualifying income.
Asset Depletion
Turn assets into income
Some programs convert eligible liquid or retirement assets into a calculated monthly amount for underwriting. Account eligibility, access restrictions, balance adjustments, required reserves and the calculation period vary. This is a qualifying calculation—not a requirement to withdraw that amount or a promise of approval. Discuss taxes and retirement implications with independent advisers.
Non-QM loans are not government-backed and may carry different terms than conventional financing. Availability and requirements vary by loan and state. Subject to credit and property approval.